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Posts Tagged ‘1099 compliance’

The Big Payback: Companies Owe Millions for Misclassifying Workers

Chris Sutton, Partner – Clover Global Solutions, LP For generations, the American workforce was comprised primarily of full-time employees who received all of the benefits – overtime pay, health insurance, paid vacations, etc.,– that their statuses conferred. Yet in recent years, a rising tide of independent contractors has saturated businesses from coast to coast.  The financial incentive…

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The Top 10 Risks for Oil and Gas Companies in 2012

The oil and gas industry is subject to financial, compliance, operational, and strategic risks.  These risks are subject to several external factors: Financial risks, which stem from the economy Compliance risks from laws, politics, or corporate governance Operational risks affecting processes, systems, and people in a company Strategic risks from customers, competitors, and investors

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1099 Compliance – Minimizing Risk through Management

Independent contractors (IC) are non-employee workers hired to perform a set task or a series of tasks. The independent contractor is considered to be self-employed, responsible for having proper insurance, paying taxes and paying workers or themselves.  Based on their IRS classification, independent contractors are also known as 1099 workers. In the oil and gas…

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